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Federal Tax Liens

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Paying taxes a little late probably won't result in a federal tax lien. But when a taxpayer significantly falls behind, the IRS has the authority to place a federal tax lien on that person's real and personal property. This can have a significant impact on the taxpayer's credit score and on the ability to sell or otherwise dispose of the property in question. When a federal tax lien is placed on real estate for example, the entire amount of the obligation has to be paid off at or before the sale of the property, and a credit score won't be updated until it is paid off. This could remain on the credit score for several years whether or not it's been paid off. If you have questions about a federal tax lien, don't hesitate. The sooner you contact an attorney the better. For more information about a tax lien contact an attorney in your area today.

Disclaimer

The information on this page is meant to provide a general overview of the law. The laws in your state and/or city may deviate significantly from those described here. If you have specific questions related to your situation you should speak with a local attorney.